7401 S Broadway St Louis, MO 63111
Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.
Investment opportunities like this seem to be rare in the current market: turn-key (truly), attractive ROI, and good property management. There are 9 buildings in this 36-unit package: 13 one bed units, 16 two bed units, 3 three bed units, and 4 commercial spaces. All are located within a ¼ mile radius of one another in the Carondelet area and all underwent major renovations about 12 years ago (roof, plumbing, electrical, kitchens, baths, etc.). Due to their condition, amenities, and layouts, these properties easily stay rented - currently fully occupied except for 1 apt for showings. With current financials, this portfolio offers a nice return on investment at 5.5+% cap rate. The good news is that current rents are averaging around 5% below market rate creating an opportunity for additional income generation (and this is using conservative rent increases so perhaps there is more wiggle room). If you’ve been looking - THIS IS THE ONE! Duplicate Listing #22051358.
|2 weeks ago||Listing updated with changes from the MLS|
|2 months ago||Listing first seen online|